DoorDash and Etsy Surge as Avis and Carvana Slump in Late Trading

DoorDash led the tech rally, with shares jumping 13% to $195 after the delivery giant reported a significant revenue increase. The company issued an optimistic outlook, stating it expects gross order value in the current quarter to surpass previous analyst estimates, signaling sustained consumer demand despite broader economic uncertainty.

In a major consolidation for the retail sector, eBay reached a definitive agreement to acquire the fashion marketplace Depop from Etsy for $1.2 billion. The deal triggered a dual rally; eBay shares rose 8.4% to $89, while Etsy stock jumped 16% to $51 as investors reacted favorably to the strategic divestiture.

Automotive Headwinds and Fleet Adjustments

Conditions were markedly different for the automotive industry. Avis Budget shares retreated 12% to $108 after the company reported lower revenue and recorded an impairment charge. The firm attributed this charge to a strategic reduction of its electric vehicle rental fleet, reflecting the ongoing challenges of managing EV residual values in a fluctuating market.

Carvana also faced a steep sell-off, with its stock sliding 15% to $307. The online retailer missed analyst expectations for adjusted Ebitda, citing reconditioning costs that were higher than the company had anticipated. The results highlight the persistent margin pressures facing the used-car market as logistics and preparation costs remain elevated.